Transparency: How far should I be actually going?

[Kerry Krishna]

 For the 3rd time in the last 18 months, I had to just write a note to a person that may likely kill a possible deal that I buy a much wanted axe off of them. Here is some background history to bring you up to date... 

  So I host Facebook's 'Kay Kraft Guitar' site. I have been collecting these flawed beauties going on two and a half years now.  I have, (I am pretty sure) the largest collection of them. I also would not have been able to collect them at all if I was not a repair person as they are all heavily damaged.

I decided last year in Jan, that I wanted to get all the KK two point family. I still have around another 20 to get, and some of them are pretty hard to come by.

  Here is the dilemma: A gent contacted me about 6 weeks ago asking for a possible estimate on a KK guitar.   HE wished to have a ballpark of it's worth, without sending me any info at all on it.I took it for granted that it was a regular 14 fret Kay Kraft mahogany, and I told him the regular selling price range on Ebay,and left it to him to send me pictures when he could take them.

 Well, he sent me the pics yesterday, and I was pretty surprised to see that  it is one of the rare ones that I need for the collection. It is in quite sad shape, and will need about 1k in repairs to get it  in good playing order, the axe only sells for $1200 without a HSC, and $1400 with.

  I had to explain to the guy right at the top of the letter that I had an ethical problem talking to him about it, just because I was also in need of owning one. So at least I got it out of the way, and he knows that I will not be taking him for a ride. I even went so far as to say that he may be better off selling it on Ebay if money for it was his main concern.

This exact same situation has happened to me twice before, and I conducted myself the exact same way. In June, I was contacted by a 85 year old woman with a Maple  KK tenor guitar that was in relatively good shape.

I gave the same speech to her, told her all the selling prices for this axe in the last 2 years, told her that I could not come close to those offers, and she would be better off selling it on Ebay. She took two days and got back to me telling me it would be in good hands if she sold it to me.

   I guess that I am just seeing what you folks think about all this. I REALLY want/need/have to be transparent in my online dealings with folks. Money has never been my god either, though I have been on the receiving end of guitars were, that has been the exact case with the sellers. Money just does not motivate me to compromise myself.

You know, it would be so easy to just make this guy an  offer after telling him all that was wrong with it, and lowball the price. 

That is not me though. I would rather kill the sale possibly and be 'known' to be honest.

  I imagine that everyone here has had similar experiences .... 

 

[Richard Bales]

Best practice is honesty.  But that is not easy to convey.  You can tell your customer that you are giving and honest appraisal, but also say that you are interested in purchasing the instrument.  Then how is the customer to judge if the appraisal is honest, let alone well-informed?  

It is also, however, dishonest not to convey your desire to purchase the instrument.  If you feel that the instrument is worth $1000 but you are only comfortable offer $800, who gains if the you don't make the offer and the owner only gets offers in the $700 range?  You both lose.

Be up front.  Give an honest appraisal.  Make an honest offer AND point out to the owner that they may wish to get a second opinion because of the perceived conflict of interest.  There is actually no conflict of interest if your intentions are openly expressed.  However, the owner might see it differently.  That's where you have to satisfy yourself that you were as open and honest as possible, but lost the instrument to another bidder.  Fair is fair.

[Paul Verticchio]

Kerry,

Honesty is ALWAYS the best path to take.  But you know, and practice, that fact.

The vintage market is still in a state of flux as to pricing. It's a crap shoot at best. And, here's a fact that I hate to admit: e-Bay has become the industry standard defacto price guide for everything.

To your benefit, the recent number of "buy/swap/sell/pawn" TV shows have taught the selling public that 'dealers' live in a 'wholesale pricing' or 'dealer to dealer' world of economics.  I think the reality of buying & selling is finally sinking in with them. That should benefit your future negotiations.

Perhaps you could (should?) give your clients two different appraisals: an "as is" figure and a "fully restored" figure.  That would give you an accurate and factually honest point from which to negotiate.

I've personally witnessed folks raping the heck out of a seller or buyer.  Those folks disgust me.  I also witnessed my vintage dealer give an elderly widow $8500 for a vintage Strat (in the '80's) that she only wanted $150 for. The universe was balanced with that transaction.

Based upon your posts on this forum and on FB, I consider you to be a truly honest & up front guy, as well as a REALLY good guy in general. Add to that; a valued friend.  It's a reputation that you've earned.

I'd say 'carry on' with what you've been doing as it seems to work just fine.  Yes, you'll win some & lose some, but when negotiations come wrapped in a blanket of honesty & integrity, any outcome will be the right outcome.  Why do I keep on wanting to call you "Grasshopper"?

Take care buddy,

Paul (:

[George Roberts]

Paul really nailed it.  If I remember correctly, it was Oliver Wendell Holmes who said, " A professional does what is in the best interests of his client, even when it isn't in his own best interest."  Can't go too far wrong with that approach.  Sounds like that has been your  M.O. 

George

[Kerry Krishna]

Well, he did agree to sell it too me, but his asking price was WAY too high, and the axe will go up on Ebay. It will of course do better than what I offered him too.  It would have been nice, that is for sure...

[Richard Bales]

I hope for everyone's sake that the instrument sells on the 'bay for well beyond its worth.  That's any easy pill to swallow for you and the seller.

[Kerry Krishna]

The thing about that happening, is that the Kay Kraft world is so small, I will not be surprised at all if whoever buys it will be contacting me for repair info... It has already happened several times!